www.Parctel.com: VLM Airlines recently unveiled their ninth consecutive year of profitability with turnover growth of 13 per cent to near €100m.
Key Figures
- Passenger numbers up 9 per cent to 682,000
- Ninth year of consecutive profit
- Profit after tax increases by 143 per cent to €3.2 m
- Introduces first jet aircraft into its fleet
Chairman’s Statement, by Mr Jaap Rosen Jacobson
VLM Airlines continues to fly successfully. Whilst we continue to face challenges and competition remains a day-to-day threat, we have yet again demonstrated our ability to react quickly and turn opportunities to our advantage.
2006 saw significant growth for VLM Airlines, with the addition of 5 aircraft to our fleet, which now totals 19 aircraft. We have reached very close to the €100m turnover milestone for the first time in our company’s existence. Our profit margin has grown, and both our solvency ratios and available cash reserves have increased, providing us with ample working capital and investment funds to continue to grow in 2007. Financial health and sustained profitability will remain a priority for VLM Airlines in the years ahead.
Our strategy and business objectives have proven to be successful and our service is appreciated by a growing number of loyal passengers. We have introduced improvements to our on-board product, with the introduction of new, ergonomic and stylishly designed aircraft seats, combined with a revamped interior. The in-flight service provided by our cabin crew continues to attract compliments for its friendliness and professionalism.
We continue to devote time and effort to offering new services and enhancements across all aspects of our product, both in the air and on the ground. We introduced a new Frequent Flyer programme in 2006, called VLM Encore. Over 20,000 customers have so far registered for this innovative loyalty scheme.
We will continue to develop and enhance our product in the coming years. We are also introducing a new aircraft type to our fleet. From today, a BAe 146-300 aircraft, equipped with 92 seats in a very comfortable 5-abreast configuration, will operate four of our 10 daily frequencies between Rotterdam and London City. We have no doubt this new initiative will be very popular amongst our growing customer base, who will appreciate the time-saving aspect we have to offer them on top of the hassle-free travel experience. If successful, this trial will be most likely repeated on some of our other routes and in addition, the extended range of this aircraft type could open new horizons for further expansion.
VLM Airlines also recently revamped its website and introduced online check-in. This again demonstrates our ability as a niche player within the airline industry to develop new features and new ideas, faster than some of our more traditional competitors, who often dispose of larger resources and funds to do so.
Our company is growing, and is doing so against the backdrop of sustained and increasing profitability. With continued adverse trading conditions, high fuel prices, and government policies that favour and subsidise other modes of transport, this is not an easy task. Nevertheless, we are committed to continuing along this path, and hope to enjoy the support of all our existing customers as we do so. We have welcomed a large number of new customers over the past year, who have discovered the benefits and advantages that we have to offer.
Thank you for helping us achieve our goals. We hope we have been able to offer what you deserve: a fast and reliable, high frequency point-to-point service, which represents excellent value for money.
Results For The Year
For the year ending 31 December 2006, VLM Airlines reported a pre-tax profit of €4.4m, up 114.9 per cent compared to €2.0m in 2005. Net profit for the full year amounted to €3.2m, an increase of 143 per cent compared to the year before. This is the company’s ninth consecutive year of net profit, and a record in its history of. The operating profit for the 12 months ending 31 December 2006 was €4.3m, compared to € 2.6m the previous year.
XML Feeds
